In its medium-term fiscal management plans for 2018 to 2020, the ministry said the government will keep budget deficit below 2 percent, at 1.9 percent for 2017-18. The government plans on reducing that to 1.6 percent by 2020.

The Turkish economy expanded beyond expectations in the first (5.2 percent) and second (5.1 percent) quarters of this year, according to the Turkish Statistical Institute (TurkStat).

The general government debt stock defined by the European Union will stand at 28.5 percent of GDP next year, compared with 31.9 percent set for this year.

On a medium-term basis, the government aims to keep this number under 30 percent to maintain a healthy balance sheet.

Turkey’s fiscal deficit and government’s debt-to-GDP will stand at 1.9 percent and 31.9 percent this year, respectively, according to the medium-term fiscal plan of 2017-2019 which was published in 2016.